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ATHENS, Feb. 14 (Xinhua) -- The central Kotzia square, just opposite to the grandiose Athens City Hall, was turned into a small "Chinese corner" on Sunday, as the Chinese community in Greece, joined by thousands of Greeks, celebrated the Chinese Lunar New Year with a magnificent and colorful event.For the first time in Greece, Chinese expatriates hosted an open party to celebrate the Spring Festival, which this year coincided with Valentine's Day and the end of carnival in Greece, their "second mother country" as they described.Greek kung fu students perform lion dance during a celebration for the Chinese New Year in Athens, Greece, on Feb. 14, 2010"Spring and Harmony -- One Family, One Love" was the main title of the festivities that brought together thousands of Chinese who work hard and live peacefully in Athens for years and enthusiastic Greeks who wished their new friends "Kali Hronia," which means " Happy New Year" in Greek.Under red lanterns and drawings of Chinese zodiac signs hanging high, Greeks and Chinese enjoyed together a four-hour event which included performances of Greek and Chinese folk music and dances, Tai Ji and Kong Fu presentations, as well as recitation of poems on Spring, friendship and love.Representatives of the Chinese community in Greece present to Mayor of the City of Athens Nikitas Kaklamanis an honorary banner for his hospitality during a celebration for the Chinese New Year in Athens, Greece, on Feb. 14, 2010"I thank Greeks for their warm hospitality and I wish Athens and Greece, the birthplace of western civilization, every success and progress in this New Year," said the Chinese ambassador to Greece, Luo Linquan, while addressing the gathering."I wish 2010 will bring hope, love and development to both people," Mayor of the City of Athens Nikitas Kaklamanis said in his address, stressing that friendship and cooperation between Greece and China, two cradles of civilizations in the eastern and western world, flourishes through centuries in the benefit of all.The mayor and the ambassador exchanged wishes in Greek and Chinese and kicked off the event by drawing the eyes of the "lions " of the International Shaolin Kong Fu Federation School of Thessaloniki, who performed the traditional lion dance, spreading joy, and hopefully good luck and happiness to the audience.Greek kung fu students give a performance during a celebration for the Chinese New Year in Athens, Greece, on Feb. 14, 2010.The aim of the whole event was after all, as Xu Weichun, president of the Trade and Commerce Chamber of Chinese in Greece, explained, that Chinese living in Greece will have an opportunity to share with their Greek friends the joy of the coming of spring and new year and express to Greek society a deep gratitude for a warm welcome to Chinese.Many Athenians attending the party were amazed at the expression of love by the Chinese people toward Greece and Greek civilization."Our Chinese friends are full of pleasant surprises. Never in my life would I thought that in the center of Athens I could see Chinese ladies sing Greek folk songs and perform folk dances with such passion," Maria Evangelou, a Greek elementary school teacher, told Xinhua.Businessman Giorgos Konstantinopoulos, a few steps further, was deeply touched by the Chinese community's initiative to donate all the money raised through a lottery to a local center for homeless people. "It is so funny to realize that Chinese people are so similar to Greeks. Full of life and caring, they support fellow citizens in need," he said.Young Tina and Gianna, high school students from Piraeus port, were so excited with the Chinese sounds, food and philosophy they encountered for the first time this Sunday noon, that they are thinking about attending the Business Confucius Institute in Athens to learn more about the language and the culture of China.Nine year old Andreas, who was dressed as a pirate for the carnival, felt sorry he didn't wear a tiger costume. "I heard today that Chinese celebrate the year of the tiger in 2010 and that tiger is the symbol of strength. Much better than a pirate! Maybe next year. Kali Hronia!"

BEIJING, Jan. 23 (Xinhua) -- The Bank of China (BOC) board has agreed to sell up to 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The proposal will be turned into the first temporary shareholders' meeting in 2010, which will be held on March 19, for approval.Excluding issuance costs, the proceeds from the issuance of the six-year convertible bonds will be used to replenish the bank's capital base and working capital and to lift its capital adequacy ratio, according to the BOC, the third largest lender by market value in China.The BOC has been implementing positive financial policies and relatively loose monetary policies since 2009.The BOC capital adequacy ratio stood at 11.63 percent and the core capital adequacy ratio at 9.37 percent by the end of September 2009.

BEIJING, March 10 (Xinhua) - A senior Chinese lawmaker said on Wednesday that legislation requiring public officials to declare their personal assets is under consideration and seen as a move to prevent corruption and improve government transparency."We are researching the issue, since the legislation requires mature consideration of all conditions," said Li Fei, deputy director of the Legislative Affairs Committee of the National People' s Congress (NPC) Standing Committee.Li noted that the legislation should be assisted by the establishment of the personal credit system, which details individuals' financial information even if assets are not declared.Premier Wen Jiabao said on March 5 that high priority should be given to fighting corruption and encouraging integrity among public officials.Leading cadres at all levels, especially high-ranking ones, must resolutely implement the central leadership's regulations on reporting their personal financial situations and property, including incomes, housing and investments, as well as the jobs held by their spouses and children, Wen said.

BEIJING, Jan. 13 (Xinhua) -- The decision of the People's Bank of China (PBOC), the central bank, to increase the deposit reserve requirement ratio has drawn worldwide attention and fluctuations in global markets.     The PBOC decided on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points as of Jan. 18, which analysts translated as a move to manage inflationary expectations and avoid a recurrence of the lending boom.     This was the first time that the PBOC adjusted the ratio of deposit that lenders are required to set aside since the end of 2008 and the first increase for the ratio since June 2008.     The PBOC cut the bank reserve requirement ratio four times in the second half of 2008 to stimulate growth as the global financial crisis started to weigh on the economy.     The adjustment of the reserve requirement ratio, without changing benchmark interest rates, indicated the central bank was targeting inflationary expectations instead of inflation, said Zhao Qingming, a senior researcher at the China Construction Bank.     Ma Jun, chief economist with Deutsche Bank (Great China), said that the rise in the reserve requirement ratio has ended the expansionary monetary policy and started a tightening cycle.     Global markets took a hit after the Chinese attempt to cool the world's fastest-growing major economy.     Chinese equities saw their sharpest dip in seven weeks on Wednesday after the central bank asked lenders to set aside more reserves as record bank lending last year ignited fears of inflation and asset bubbles.     The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points.     The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points.     Hong Kong stocks shed 578.04 points, or 2.59 percent, to close at 21,748.60 on Wednesday.     The Hong Kong market was also dragged by overnight losses on the United States markets. The benchmark Hang Seng Index opened down 1.42 percent and widened its losses to 2.24 percent by lunch break, and further to 2.59 percent by market close.     South Korea's financial markets on Tuesday reacted as the Chinese central bank raised the deposit reserve requirement ratio, with the stock markets and foreign exchange rate plunging from the last close.     The benchmark Korea Composite Stock Price Index (KOSPI) and the Korean Securities Dealers Automated Quotations (KOSDAQ) jointly marked a plunge of 27.23 points and 3.65 points, respectively, from the last close.     The report from China also affected the foreign exchange market, with the local currency also sliding against the U.S. dollar by 1.9 won.     The New Zealand share market also fell on Wednesday after the Chinese move.     The share market closed 0.43 percent lower with the benchmark NZSX-50 down 14.1 points at 3,276.2.     Canadian stocks fell for the second day, weighed down by a metal and mining sector that was hit by the Chinese central bank's decision to cool economic growth.     The S&P/TSX Composite Index declined 126.94 points, or 1.06 percent, to 11,820.18 on Tuesday. Earlier the index shed 173 points to 11, 774, the lowest level this year.     U.S. stocks retreated Tuesday, with S&P falling for the first time in 2010, as disappointing Alcoa fourth-quarter results and rising U.S. trade deficit cooled optimism for a strong earnings season and a sustainable economic recovery.     Crude tumbled the most in five weeks on concerns that demand from China, the world's second-largest oil consumer, will wane as the government moves to curb lending.     Benchmark crude for February delivery fell 1.73 dollars to settle at 80.79 dollars a barrel on the New York Mercantile Exchange. It's the first time this year a barrel has closed below 81 dollars a barrel.     Meanwhile, analysts widely hold that the Chinese central bank's decision is to cast only a short-term, instead of mid-term, stroke on the domestic stock market, as the impact would largely be psychological.     Zhuang Jian, a senior economist with the Asian Development Bank, said the adjustment did not indicate a shift in the moderately easy monetary policy, but was an effort to control the pace of lending.     Through the reserve requirement ratio increase, the central bank intended to call for balanced lending at commercial banks, which would support economic growth while avoiding higher inflationary expectations, Zhuang said.

WASHINGTON, Feb. 27 (Xinhua) -- China remains the largest foreign holder of U.S. Treasury securities as at the end of December, the U.S. media reported on Saturday.The report quoted the new government data as saying that China held 894.8 billion dollars in Treasury securities at the end of December, more than 755 billion dollars that had been previously estimated.But the new report also showed China trimmed its holdings of U. S. debt by 34.2 billion U.S. dollars in December.The U.S. Treasury reported on Feb. 16 that Japan surpassed China as the largest holder of U.S. Treasury securities in December. But the new estimate said Japan, now back in second place, held 765.7 billion dollars in December.Japan had been the largest holder of U.S. Treasury securities until China gained that distinction in 2008."Purchase of Treasuries by China would reflect only purchases by an entity in China from an entity based in the U.S.," Stone & McCarthy Research Associates said in a recent client note."The Data would not pick up purchases done on behalf of Chinese investors by dealers in the U.K or Hong Kong, for example, nor would it pick up purchases of Treasuries by investors in China from investors based outside of the U.S.," it added.China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar .Last week, when responding to questions on China's sale of U.S. Treasury securities in December, China's Foreign Ministry spokesman Qin Gang said the issue should be viewed from two perspectives.He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the U.S. dollar, Qin said.The way to view the issue was similar to doing business, he said.